Empowering financial services to deliver new customer value and connected experiences so the bank CEO can sleep at night
Think about the massive amount of change a global bank experiences trying to keep pace with fintech competition and intense regulatory pressures. It’s the CEO who thinks about the entire web that is being woven, which includes oversight and responsibility for enormous amounts of data, processes, systems, cyber threats, assets, risks, people, culture and brand. Not to mention and most important – for the average person with money in the bank – trust and integrity.
To a certain extent, the workplace culture for a bank’s employees can make or break its ability to efficiently and effectively change, translating to experiences that are attractive and seamless for customers, ultimately influencing the return on equity that banks are measured against. It also puts many c-level executives at banks on edge because after all they are ultimately responsible for the behaviors and actions of their employees in a heavily regulated environment.
Since 2008, banks have been taking numerous steps to get healthy again, re-establish trust and respond to regulators. They have also been trying their hand at digital transformation. Most recently, a large well known bank demonstrated yet another example of a flaw in their sales management process. This raises opportunities for automation, such as the Microsoft Risk Compute Modeling app that runs on the Azure cloud, to tighten risk controls, provide modeling for stress testing and detects anomalies and enhances the overall risk management framework. It is a solution designed to empower employees, engage customers, derive tighter risk controls and optimize operations.
Whatever the challenge, Microsoft has the technology and innovation that can adapt at a more rapid pace than manual reviews and can inform executives the instant there is an outlier that is not compliant with ethics policies, a leading business operations practice, regulatory requirements and other critical activities which is a pretty powerful mechanism for a bank executive’s peace of mind and simply put: the ability to sleep at night.
As it turns out, there is an emerging acceptance amongst banks that apps running in the cloud is the best way to drive real value throughout the bank. At the same time, regulators, executives, auditors or clients, deep in business expertise, but less in technology, may be skeptical about relying on such techniques requiring the age old need to translate technology concepts into simple common language.
At Microsoft, we have a team of Financial Services Industry Architects who can do just that. They understand the relationship between business and technology and can partner with you to make your digital transformation a reality.
They also happen to have a passionate understanding and ability to leverage Microsoft’s portfolio of products as digital transformation enablers. So, rather than seeking the advice of a traditional management consultant, reach out to a Microsoft Financial Services Industry Architect who will provide you the advice you need and a plan for a plan to ensure a true digital transformation and a better night’s sleep for the CEO who is ultimately on the hook for just about everything.
For more information on moving to cloud with confidence go to: move to Microsoft Azure with confidence.
You can also learn about the steps Microsoft has taken to help banks and insurers successfully move to the cloud. As you will read, Karen Cone, General Manager of the Worldwide Financial Services sector concludes, “the bottom line is that digital transformation will challenge the current way that traditional financial institutions operate, but once these disruptive technologies are integrated with transformed business processes, it will give them the freedom to not only compete, but to thrive.”
If you would like to engage a Microsoft Financial Services Industry Architect in Worldwide Industry Services, contact Juliet Gritz [email protected].
Twitter: @jkgritz
LinkedIn: https://www.linkedin.com/in/julietgritz
Read more on the Microsoft Banking & Capital Markets and Insurance blogs
